USA: Nike Snaps Up Converse For $305m

The world's biggest sportswear and athletic shoe company, Nike Inc, became even larger on Wednesday when it agreed to acquire popular footwear firm Converse Inc in a deal worth more than $300 million. The Oregon-based company agreed to pay $305m for the 95-year-old maker of some of the world's lowest-tech footwear and will also assume some of Massachusetts-headquartered Converse's debt.

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